The most obvious benefit of a cap-and-trade system is that it ca lower emissions. Some projections say that CO2 emissions could be reduced to 20% of 2005 levels by 2050, rapidly slowing global warming. Theoretically, since the companies that could afford to lower their pollution at cheaper rates would sell their permits to companies who found lowering emissions more expensive, emissions would be reduced at the lowest total cost. This would also encourge more research in alternative energy, where no permits have to be bought. In addition, it would provide the government with a great sum of money to invest in saving energy and many public goods such as parks, roads, or schooling. A great deal of pros and cons exist regarding this sort of system; the link below has more information.
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